1980 My literary era

In November, it snowed in Yanjing at night. The early snow could cover people's feet, and it showed no signs of stopping. The whole city was decorated with white snow and covered with silver.

This morning, the streets of Yanjing seemed quite empty.

A black Mercedes-Benz drove into the courtyard of the Chinese Literature Society, and Zhang Chaoyang got out of the car and hurried into the building.

Seeing Lin Weimin, he looked anxious, "Teacher Lin, how many stocks has the group reduced its holdings in the past few days?"

Lin Weimin looked indifferent, "Why are you asking about this? About 200,000 shares."

Hearing this, Zhang Chaoyang breathed a sigh of relief, and then cursed bitterly.

"Both Goldman Sachs and Intel are really dishonest. We agreed to slowly cross-cut the holdings and cash out. As a result, more than 2 million more shares appeared on the market than usual in the past two days, and the company's stock price fell in two days. 14%.”

Half a month ago, Lin Weimin called Zhang Chaoyang to inform Zhang Chaoyang that Guowen Group would reduce its holdings and cash out some of its shares after the expiration of the Sohu stock ban. The reason given was: it is the end of the year and the group's first anniversary, so that the financial report will look better.

Lin Weimin's reasons were high-sounding, so Zhang Chaoyang didn't pay attention at the time.

It is a routine operation for shareholders to cash out and reduce their holdings after the lifting of the ban. Not only Lin Weimin, but also several small shareholders of Goldman Sachs, Intel and Sohu are also preparing to cash out during this period.

As long as everyone communicates well in advance and cooperates with each other, it will be fine if they don't crowd together to reduce their holdings and cause panic among investors and the market.

But Zhang Chaoyang never expected that several shareholders would be so unruly about what they had agreed upon before.

Sohu's stock lifting period had just expired, and within two or three days, there were two to three million more shares in circulation than usual on the market. This situation immediately caused turmoil in Sohu's stock price.

Zhang Chaoyang became very angry when he mentioned the sudden drop in stock price. Since its listing in May, Sohu's stock price has been rising steadily. By early November, it had reached 110 meters per share. The company's market value has also increased since its listing. It rose from 2.44 billion US dollars at the time to 7.45 billion US dollars.

Everything was going great originally, but now that the stock lifting period has come, Zhang Chaoyang is also prepared for the company's stock price to fluctuate.

After all, many shareholders have invested so much real money, and now that they can finally cash out, they naturally want to be safe.

Zhang Chaoyang was not only angry about the turmoil in the stock price. The rush of shareholders to sell their stocks also revealed their distrust of Sohu and himself.

"This is reasonable. The stock price decline caused by shareholders reducing their holdings and cashing out will not last long, and will rise back after a while."

Lin Weimin's words made Zhang Chaoyang feel a little calmer in his heart, and his tone was slightly complaining, "I know this, but these companies don't keep their promises. We obviously don't have to face this situation."

"Don't worry, Goldman Sachs and Intel are not fools. It should be that everyone has not communicated well these days. This will not do them any good."

Zhang Chaoyang nodded, and then asked Lin Weimin: "Teacher Lin, how much does the group plan to reduce its holdings in the end? Please tell me, so I can have a good idea."

Lin Weimin mused: "In the next few months, we will slowly reduce our stock holdings. It's hard to say exactly, but at least half will be at least half."

Hearing this, the worry in Zhang Chaoyang's heart showed on his face, "Half? Is it too much?"

"More is a bit too much, but there is nothing we can do about it. The attributes of Guowen Group are different from those of ordinary private companies. Our strategy is definitely more conservative than Goldman Sachs. Moreover, the group's headquarters building is still under construction, and the group also needs money.

The most important thing is that several other companies we have invested in are still in the incubation stage and require a large amount of capital. This money cannot be given out by the group. After investing in the Internet for more than two years, the listing of Sohu is our first harvest, and it will inevitably become the capital pool we rely on to support Internet investment. "

Lin Weimin's explanation was reasonable and reasonable. Even if Zhang Chaoyang was unwilling, he couldn't argue with anything. The key person, Mr. Lin, said everything openly, unlike Goldman Sachs and Intel who stabbed him in the back.

"Okay, I'll be ready."

Seeing his heavy expression, Lin Weimin comforted him: "Don't worry too much. Even if the group reduces its holdings, it will still be Sohu's third largest shareholder, and we will still support you unreservedly. If conditions are right in the future, we will increase our holdings For stocks, this time won’t be too long.”

Zhang Chaoyang's expression became more relaxed, and he thought of the good in everything. Guowen Group's stock holdings would be slowly reduced in the next few months, and the impact on Sohu's stock price was actually not that big.

"Sohu's market is not big. As long as the market confidence is there, it will not have a big impact."

Zhang Chaoyang nodded, Teacher Lin's words were not wrong.

After comforting Zhang Chaoyang, Lin Weimin asked with a smile: "How is it? You haven't cashed in recently to improve your life?"

"With Goldman Sachs and Intel as two troublemakers, where do I get the chance?" Zhang Chaoyang showed a wry smile when he mentioned this, "After some time, when the stock price stabilizes, I will reduce my holdings a little more. "

The two chatted for a while, and Zhang Chaoyang suddenly asked Lin Weimin about the headquarters building being built by Guowen Group.

Lin Weimin asked curiously: "What's wrong? You also want to build an office building for Sohu?"

"The number of employees at Sohu has expanded so fast in the past year or so. They all rent offices outside, which is really inconvenient. But it is certainly not the case now. Although the company has hundreds of millions of dollars in funds on its books, it was all financed. The funds are reserved for the development of Sohu.

My idea is to wait until Sohu becomes profitable in the future and then build a headquarters building.

In two years, according to Sohu's current development speed, I am confident that it will achieve profitability in two years. By then, the group's building should be completed. "

Listening to Zhang Chaoyang's words, Lin Weimin smiled and said: "Our group's buildings are only for rent, not for sale."

Zhang Chaoyang laughed loudly, "Teacher Lin, you are really good at joking. If you really want to buy it, we Sohu can't afford it!"

Lin Weimin said: "Just because you can't afford it in the past two years doesn't mean you won't be able to afford it in the future. I'm optimistic about you."

His words gave Zhang Chaoyang some confidence. He was used to drawing confident energy from Lin Weimin every time he came to Guowen Group.

After Zhang Chaoyang left, Lin Weimin shook his head.

We are still young people, and the stock price has only dropped 14%, so we are in a hurry. If the stock price drops to the price of cabbage in a year, how anxious will it be?

It is now November 1999, less than four months before the Nasdaq avalanche.

The NASDAQ avalanche in 2000 was by no means a direct result of the bubble of Internet companies or technology stocks, but the result of the economic cycle.

In fact, the peak of the U.S. economy during this stock market crash occurred in July 1999, and then the U.S. stock market, including Nasdaq, began its final surge. This time period is the last period before the U.S. stock market crash. of madness.

So this is why Lin Weimin comforted Zhang Chaoyang that he didn't need to worry too much about shareholders running on shipments. With the current craziness of Nasdaq, Sohu's stock would not have to worry about finding anyone to take over.

In the past two days, Guowen Group only sold 200,000 shares in its hands and successfully arbitraged 20 million yuan. The huge benefits of capital operation are indeed intoxicating.

After Zhang Chaoyang's coordination, several shareholders of Sohu became much more gentle. Although there were many more stocks circulating on the market than before the ban was lifted, they were controlled within a stable range.

The market is hot at this time, and everyone interprets this phenomenon as Sohu's shareholders arbitrage to recoup their capital, and many institutions and investors have taken over the shares at high prices.

Around New Year's Day, it is officially the time for the annual year-end summary within the group, but this year everyone at Guowen Group did not focus on the group's internal summary report, but on the other side of the ocean.

As of the end of December, Guowen Group’s original 16.25% stake in Sohu had been reduced to 12%

In the past month and a half, Guowen Group sold shares equivalent to 4.25% of Sohu's total share capital. The average transaction price per share was around 95 US dollars. This figure is of course a huge loss compared to the high point of Sohu's stock price.

But to cash out and run away, you have to bear this kind of risk and loss.

Generally speaking, after more than a month of stock reduction and cashing out, Guowen Group's gains are huge.

The sale of 4.25% of Sohu's shares by Guowen Group ultimately brought revenue of US$274 million to the group. According to the currency exchange rate between China and the United States at this point in time, Guowen Group's revenue this time reached a huge RMB 2.2 billion.

2.2 billion, or pure profit, what is this concept?

Before the establishment of the group, the Chinese Literature Society had worked hard for 40 years and had never made so much money.

Taking the total revenue of Guowen Group this year as an example, after merging the financial statements of all subordinate units and subsidiaries, the total revenue of Guowen Group this year is only 1.816 billion yuan. If you count the profit after interest and tax, it is even more incomparable.

Originally, at the end of this year, the two most dazzling units in the Guowen Group should be the Wenhua Film and Television and Advertising Services Department.

Wenhua Film and Television was listed on the Shanghai Stock Exchange three months ago, and its stock price has been soaring. The company's market value has reached tens of billions. Guowen Group holds more than 53% of Wenhua Film and Television's shares. Logically speaking, this is also a huge wealth.

But the problem is that Wenhua Film and Television is a direct affiliate of Guowen Group. Even if the stock lifting period comes, Guowen Group will not easily reduce its holdings and cash out. After all, this is related to the issue of Guowen Group's control over Wenhua Film and Television.

Therefore, Wenhua Film and Television's stock is a bit like a castle in the air for Guowen Group. Even if it reduces its holdings and arbitrages in the future, the profit will not be as exaggerated as Sohu's stock.

Another dazzling presence within Guowen Group this year is the advertising service department. In less than a year since its establishment, under the leadership of Tan Xisong, a strongman who came from CCTV, the advertising service department has created an advertising revenue of more than 110 million yuan. This figure is not far behind even for the major well-known advertising companies that look at Yanjing.

Of course, the reason why the Advertising Service Department has achieved such great results is not only Tan Xisong's own ability, but more importantly, the foundation laid by the Chinese Literature Society in the past few years.

After the Chinese Literature Society was restructured into the Chinese Literature Group, the fundamentals remained unchanged.

Guowen Group owns nine of the most well-known newspapers and magazines in the domestic cultural and media circles and the highest sales, including "Contemporary", "Guowen Bao", "Heroes of Kyushu", "Hongdou", "King of Painting", "Hongdou Comics"...

Except for "New Literature Historical Materials" and "Chinese Prose", which have low sales due to genre reasons, the sales volume of each of these newspapers and magazines controlled by Guowen Group is in the millions.

These nine newspapers and magazines can cover a readership of more than half a billion. Looking at the Chinese cultural and media circles, they are unmatched.

Although limited by the consistent style and tone of newspapers and magazines, Guowen Group cannot implement a comprehensive commercialization strategy in these publications, but even now, the influence of these publications far exceeds that of ordinary provincial and municipal TV stations. Even many satellite TV stations cannot have this kind of influence.

In later financial terms, most of the readers that Guowen Group can influence belong to domestic high-net-worth individuals, and advertising fees are much more expensive than those of ordinary publications.

Mandarin Film and Television and Advertising Services Department is a huge highlight in Mandarin Group's business activities this year, but it cannot be compared with Sohu's stock reduction.

When Lin Weimin decided to invest in Sohu in August 1997, no one at the Chinese Literature Society was optimistic about his decision. It was only the authority that Lin Weimin had established in the society over the years that suppressed public opinion.

Since then, Lin Weimin has made several investments in the domestic Internet field. On the surface, the Chinese Literature Society is calm, but private discussions have never stopped.

It was not until Sohu's follow-up financing started, and the investment in the Chinese Literature Society appreciated with terrifying efficiency in a short period of time, that the voices within the Chinese Literature Society gradually weakened.

When Sohu went public, the shares held by Guowen Group were worth hundreds of millions of dollars. Everyone in the group admired Lin Weimin's foresight.

Now that Sohu's stock has passed the lifting period, Guowen Group immediately reduced its holdings and cashed out, making a profit of 2.2 billion yuan in just over a month.

Lin Weimin's reputation within the Guowen Group reached new heights, almost to the point where tens of thousands of families were living as Buddhas, and the employees of the group barely built a shrine for him.

Question Lin Weimin, understand Lin Weimin, and praise Lin Weimin.

The mental journey of the employees of Guowen Group over the past two years can be called a wonderful literary work, and there is only one protagonist in it, and that is

——Lin Weimin.